It has cost Musk a lot of money, but the critical point here is that it has also cost Twitter a lot of money: Because it is a leveraged buy out Twitter owns the $13bn debt that was raised to buy it out.

Just because the new owners paid price X doesn’t mean the previous owners weren’t extracting profits that were based on the value X of the business.

Basically it seems like some people are doing some mental gymnastics to justify disliking or boycotting Twitter because Elon bought it and doesn’t seem to be going along with the program.

Because Musk is known to increase the value of companies by taking from users and giving back crappy products and services?!

I find that train of thought very unconvincing.